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International Risk Sharing and European Monetary Unification

  • Sorensen, B-E
  • Yosha, O

We explore risk sharing patterns among European Community (EC) countries and among OECD countries during the period 1966-90. We find that, for OECD as well as for EC countries, about 40 percent of shocks to GDP are smoothed at the one year frequency, with about half the smoothing achieved through national government budget deficits and half by corporate saving.

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Paper provided by Tel Aviv in its series Papers with number 40-96.

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Length: 29 pages
Date of creation: 1996
Date of revision:
Handle: RePEc:fth:teavfo:40-96
Contact details of provider: Postal: Israel TEL-AVIV UNIVERSITY, THE FOERDER INSTITUTE FOR ECONOMIC RESEARCH, RAMAT AVIV 69 978 TEL AVIV ISRAEL.
Phone: 972-3-640-9255
Fax: 972-3-640-5815
Web page: http://econ.tau.ac.il/research/foerder.asp
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